NYC - When is the time to buy a bargain?

[Billy Zhao]

Read a lot of bad news about NYC especially Manhattan, which has a serious problem with vacancies and declining rent (as much as 25%). 

Do you think this is just temporary (I'm pretty sure it will roaring back, just not immediately)? Any bargain to be had? I'd love to own a piece of big apple...

Of course, this could be a pipe dream as I can see that there are a ton of investors with hot cash ready to decent like a bunch of vultures...